Compare the best business bank accounts for ecommerce

If you're looking for a business bank account for ecommerce purposes, find out how to pick the right one for your needs.

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If you’ve recently set up an ecommerce business, you may be considering opening a business bank account. Let’s take a closer look at how they work and how to choose the best one.

Compare business bank accounts for ecommerce

Table: sorted by promoted deals first
1 - 10 of 120
Name Product Account fee Bank transfers Interest (AER) Accounting integrations Arranged overdraft Account management Key benefits Link
OFFER
Mettle by Natwest
Free
Free
0% AER
FreeAgent, QuickBooks, Xero
App
Comes with a suite of free accounting software to integrate with (conditions apply)
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Finder Award
EXCLUSIVE
Tide Free
Free
£0.20
Free if both accounts are with Tide
0% AER
Clear Books, FreeAgent, KashFlow, QuickBooks, Reckon One, Sage, Xero
Online & app
FINDER EXCLUSIVE: Get 5 months free transfers when using the code FINDER5FREE. Plus register your limited company for free (usually £12) and open a Tide account in one go: choose 'Register a company' from the Tide homepage menu. Also connect your business bank account to Tide and receive a £75 Uber/Uber Eats voucher. T&Cs apply.
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FREE TRIAL
The Co-operative Bank Business Current Account
£10
(waived in first 30 months)
Free
0% AER
N/A

On application (subject to status, eligibility and The Co-operative Bank's Lending policy)
Branch, online, app & phone
Free everyday business banking for first 30 months. Sole traders or Single Directors only. Apply online. Charges apply for cash and cheque transactions & other special services. Subject to status, eligibility and T&Cs.
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OFFER
Cashplus Business Bank Account
Free
£0.30
Free for first 3 payments sent each month (£0.30 for every transfer thereafter)
0% AER
Clear Books, FreeAgent, KashFlow, QuickBooks, Sage, Xero

By invitation
Online & app
No annual or monthly fee when you apply using the Finder link
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FREE TRIAL
Kinetic Current Account
£6.50 per month (waived in first 12 months)
Free
0% AER
QuickBooks, Sage, Xero
App
No monthly account fees for 12 months, thereafter a monthly charge of £6.50 applies
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Countingup Starter Business Account
£3 per month
(waived in first 3 months)
£0.30
0% AER
N/A
Online & app
0.3% cashback on purchases for new and existing customers, available until 31 of May.
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OFFER
Small Business Account
£12.50 per month
(waived in first 3 months)
From £0.30
0% AER
N/A
Online, app & phone
No monthly account fee for the first three months
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Kapaga Standard Business Account
Kapaga Standard Business Account
£59.99 per month
0% AER
N/A
Online
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Multi-Currency Business Account
Free
Free
0% AER
Xero
Online & app
Get a free multi-currency business account
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View details
CASHBACK
ANNA Free
Free
Free
2 free UK transfers per month
0% AER
Sage, Xero
App
Earn 1% cashback for paying with your ANNA card in selected categories.
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Compare up to 4 providers

Latest reviews of business accounts for running an ecommerce business

Mettle by NatWest - Mettle by Natwest

Mettle by Natwest

★★★★★

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Comes with a suite of free accounting software to integrate with (conditions apply).
If you're looking to keep business costs down, the great thing about the business bank account from Mettle is that it's completely free to use. It's also easy to apply for - you can do so via the app in just a matter of minutes. Mettle is part of the NatWest Group and there are lots of great benefits to take advantage of. For example, you can create and send invoices on the go, set up Money Pots so that you can save for things like tax and new equipment, as well as get an overview of your cash flow at any time so you can keep track of your spending and income. What's more, you can also sync the account with accounting software such as FreeAgent, QuickBooks and Xero. Note that you must be a UK-based company and a UK resident to apply for this account.
  • Quick and easy application process
  • Option to freeze your card if you loose it
  • Free and includes some useful features
  • Owned by the Natwest group whom are very credible
  • Sleek easy to use app
  • Overdrafts are unavailable
  • Not FSCS protected
  • Daily payment limit of £10,000
Account fee Free
Bank transfers Free
Accounting integrations FreeAgent
QuickBooks
Xero
Requires credit check Soft search with no impact on credit score
Overdraft



Starling Bank - Business Current Account

Business Current Account

★★★★★

Read review
Add the new Business Toolkit onto your free Starling account, and get the first month free of charge (RRP £7pcm).
This digital-only bank account from Starling can be applied for with ease via the app. There's no monthly fee for the account but it still offers a whole range of useful benefits for your business. For example, you'll be able to integrate your account with QuickBooks, FreeAgent and Xero, benefit from automated business spending categorisation and receipt capture, and make international payments. Spending on your bank card and withdrawing cash abroad is also free of charge. Accounts can also be customised with add-ons, provided you're happy to pay a monthly fee. This includes the Business Toolkit which helps you create and send invoices, calculate tax, record your VAT and submit your VAT return, a Euro business account for exchanging and holding euros, and a US dollar business account for holding, sending and receiving US dollars.
  • Add the new Business Toolkit onto your free Starling account and get the first month free of charge (RRP £7pcm)
  • Completely free UK current account opened and ready to use in 20 minutes
  • Safe and secure
  • Fully licensed by the FCA and PRA
  • Free to use your card abroad including ATM withdrawals, splitting the bill made easy with "settle up" feature, competitive and comprehensible overdraft fees
  • Decent interest rate paid on current account balances
  • Efficient app offering a range of good features such as budgeting tools and saving features
  • Has a marketplace offering competitive pensions
  • Mortgages and insurance from other growing fintech companies
  • Teen account options
  • 24/7 customer support (for all types of enquiries)
  • Relatively new so does not offer every feature, e.g. mortgages
  • No bank branches, all done via the web
  • Only available to UK residents
Account fee Free
Bank transfers Free
Accounting integrations FreeAgent
QuickBooks
Xero
Requires credit check Soft search with no impact on credit score
Overdraft



Cashplus - Cashplus Business Bank Account

Cashplus Business Bank Account

★★★★★

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No annual or monthly fee when you apply using the Finder link.
If you're looking for a low-cost business account, take a look at what Cashplus has to offer. There are no monthly account fees and no fees for UK purchase transactions either. Signing up for the account can be completed online in a matter of minutes. Through the account, you'll be able to track expenses and block certain transactions, order up to 20 additional cards, download statements for each card in CSV format online, manage cards via a centralised management system, and integrate your account with accounting software. You'll also be able to deposit cash via bank transfer or the Post Office, use your card online and instore or to withdraw cash, pay bills and expenses online and categorise spending on the go via the app. Money held in your account will be protected up to £85,000 by the Financial Services Compensation Scheme.
  • Have account up and running in 5 minutes
  • Overdraft option "Cashplus iDraft" once you're eligible
  • Currency cards to use overseas
  • Online services in addition to the mobile app
  • Charge to have your bank card issued
  • Traditional bank still needed for majority of your business finance needs
Account fee Free
Bank transfers £0.30

Free for first 3 payments sent each month (£0.30 for every transfer thereafter)
Accounting integrations Clear Books
FreeAgent
KashFlow
QuickBooks
Sage
Xero
Requires credit check
Overdraft



By invitation

Airwallex - Multi-Currency Business Account

Get a free multi-currency business account.
This bank account enables businesses to collect, hold and send money in multiple currencies. There are no monthly fees and accounts can be opened in a matter of minutes. Users will be able to transfer funds in more than 34 currencies into over 130 countries at competitive exchange rates. What’s more, you’ll be able to create virtual employee and expense cards for your business which will enable you to track spending and set spend limits. You can also use your multi-currency debit card to pay for expenses online or in person in different currencies with no transaction fees, provided you have the right currencies in your account. Further benefits include the option to connect your currency accounts with platforms like eBay, Shopify and PayPal, and the ability to sync your account with Xero to ensure your Xero transaction records are up to date for your accountant or bookkeeper.
  • Collect, hold and send money in several currencies
  • Competitive foreign exchange rates
  • No monthly account fees
  • No transaction fees for card payments
  • Not covered by the Financial Services Compensation Scheme
  • Transfers can only be made to your Airwallex wallet or to a business bank account
Account fee Free
Bank transfers Free
Accounting integrations Xero
Requires credit check
Overdraft



Do you need a business bank account to run an ecommerce business?

You won’t necessarily have to open a business bank account to run an ecommerce business. However, this will depend on whether you’ve set up your business as a limited company or whether you’re currently a sole trader.

If your business is a limited company in the UK and you’ve registered it with Companies House, you will be legally required to open a business bank account as your business is a separate legal entity from you as an individual.

On the other hand, if like many businesses in the UK, you are a sole trader, your business is not legally separate from you and there is no obligation to open a business bank account. However, it can still be worth opening one as you’ll be able to clearly see the divide between your own income and expenditure, and your business.

You should also note that some banks may specify that personal current accounts are used for personal reasons only. They may threaten to close your personal account if they spot a large number of business-related transactions.

Benefits of an online bank account for ecommerce purposes

When comparing business bank accounts for ecommerce purposes, you’ll come across traditional high street bank options that will allow you to carry out some of your transactions in branch, as well as online only accounts.

Choosing a business bank account that can be opened and managed online has a number of benefits. For a start, these accounts are designed to incur fewer overhead costs and those savings are often passed on to the customer. This means online accounts tend to have lower service and maintenance costs, they may pay higher rates of interest and transactions generally clear faster than they do with a high street bank.

Most online banks also offer an app, allowing you to manage your account on the go and get notified when money is paid in or out of your account. Many will also include budgeting tools and integrate with accounting software to help you keep on top of your invoices and tax returns.

If your business also trades abroad, some online accounts will offer low-fee foreign transactions and let you hold money in different currencies.

What should you look out for when choosing a business bank account?

When comparing business bank accounts, you’ll need to keep the following in mind:

  • Is there a monthly account fee?
  • Are there transaction fees (for example, for transfers in and out, and direct debits)?
  • Does the account have an overdraft and, if so, how much will you be charged?
  • How can the account be opened and managed?
  • Does the account offer additional tools and support, such as budgeting, accounting and invoicing?
  • Will you be charged for using your debit card?

Some business bank accounts won’t charge a monthly maintenance fee for the first year or so, but fees will kick in after that. Having fees waived for the first year may be helpful if your business is just starting out.

What you should look for when selling internationally?

If you trade internationally, it’s important to compare business bank accounts to see how much you’ll be charged each time you carry out a foreign transaction. You’ll need to consider what exchange rate you’ll be charged, as well as additional fees for sending or receiving money internationally.

Many digital only accounts will let you carry out a set number of foreign transactions per month either free of charge or for a small fee. Make sure you compare these costs carefully.

Depending on where you sell, you may also need to hold different currencies in your business account. Some digital banks will offer accounts in euros and/or dollars, while others will offer a multi-currency account that will let you transact in several currencies from the one account.

Pros and cons of a business bank account for ecommerce

Pros

  • Allows you to better manage your business finances and keep them separate from your own.
  • Can help you build a credit rating for your ecommerce business.
  • A dedicated business bank account can make your business seem more professional to clients.
  • Some accounts offer low-cost foreign transactions.

Cons

  • Many business accounts charge a monthly fee.
  • Fees often apply to transactions – though you may have a free monthly allowance.
  • You’ll have 2 accounts to manage – a personal account and a business one.

Bottom line

Opening a business bank account for ecommerce purposes has a number of benefits, but primarily it can make juggling your business expenditure with your own that much easier. This will also be beneficial when you come to do your tax return.

When deciding which business bank account is best for your ecommerce business, you’ll need to consider how you plan to run the account and what you need from it. For example, if your business is a startup, your priority may be to keep costs as low as possible – in which case, you’ll need an account that offers decent transaction limits and a low monthly fee.

Frequently asked questions

We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you.

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